Calamos Advisors LLC Purchases New Position in Perella Weinberg Partners (NASDAQ:PWP)

Calamos Advisors LLC acquired a new stake in Perella Weinberg Partners (NASDAQ:PWP) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 93,601 shares of the company’s stock, valued at approximately $2,231,000. Calamos Advisors LLC owned approximately 0.11% of Perella Weinberg Partners at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in shares of Perella Weinberg Partners during the third quarter valued at $197,000. PDT Partners LLC bought a new position in Perella Weinberg Partners during the 3rd quarter valued at about $210,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Perella Weinberg Partners during the 3rd quarter valued at about $214,000. US Bancorp DE purchased a new stake in shares of Perella Weinberg Partners during the 3rd quarter valued at about $325,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Perella Weinberg Partners by 30.4% during the second quarter. The Manufacturers Life Insurance Company now owns 20,167 shares of the company’s stock valued at $328,000 after purchasing an additional 4,697 shares during the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Perella Weinberg Partners

In related news, President Dietrich Becker sold 442,889 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total value of $10,841,922.72. Following the transaction, the president now directly owns 379,140 shares of the company’s stock, valued at $9,281,347.20. This represents a 53.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total value of $7,358,173.92. Following the completion of the transaction, the chief executive officer now owns 566,386 shares of the company’s stock, valued at $13,865,129.28. This trade represents a 34.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 43.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PWP. JMP Securities raised their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods reduced their price target on shares of Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th.

Perella Weinberg Partners Price Performance

Shares of PWP stock opened at $25.77 on Wednesday. The company has a market capitalization of $2.27 billion, a P/E ratio of -10.87 and a beta of 1.59. The company’s 50-day simple moving average is $24.65 and its two-hundred day simple moving average is $21.87. Perella Weinberg Partners has a one year low of $11.44 and a one year high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.20 by $0.14. The business had revenue of $278.20 million during the quarter, compared to analyst estimates of $196.42 million. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%. The company’s quarterly revenue was up 100.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 EPS.

Perella Weinberg Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.09%. Perella Weinberg Partners’s dividend payout ratio is presently -11.81%.

About Perella Weinberg Partners

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.